Baja Business Briefing

As this is being posted I am travelling back to Baja and expect to be there through the coming week, as there is a lot to do.

As mentioned earlier, the meeting with the Architect in Portland last week went very well and it is safe to say that they are almost as excited now as we are about this project. They are putting a team together including outside architects, in order to evaluate the best approach to the task of creating a Master plan for a project of this size.

The moment when we will be able to sign the definitive purchase agreement, is getting nearer as the DD is progressing better than anticipated. Early meeting already set for Monday morning, in order to go through the details that will form the basis for the documentation. We did not anticipate to reach this point until the following week, so this is very positive.

Contel expects to select the most suitable produce buyer for the first tract during the week and will be aiming to get a commitment in the form of a “letter of purchase”. Once this is in hand, we will be releasing details of the produce, number of expected tons of produce as well as value of the purchase.

I think it would be fair to say that ProGreen has now reached a pivotal point in its history, with the likelihood of success being greater than ever before.

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